Buy with slbelow 590 for target of 780+ levels.
Wicks at bottom suggests market is not ready for down move. Price is abv EMA and has also broken minor lower high.
Disc : it's not an investment advice to buy or sell
CESC is breakout out of last 100 days' descending trendline along with 400 days' descending trendline. Breakout with volume can bring price to its 52Week high. Rest is mentioned in the above chart.
I hope you will benefit from this knowledge
ALL THE LEVELS ARE MARKED ON CHART, RED ZONES DENOTES SUPPLY ZONES AND GREEN IS FOR DEMAND ZONE. BLACK LINES ARE MINI POINTS ;)
PRICE LOOKS STRONG, CLOSED ABOVE 20 & 50 DAILY EMA DENOTED BY BLACK & GREY IN 3 HRS TIMEFRAME.
The indicator used:
1) Daily Lines plots Daily 20 & 50 EMA on lower time frame charts
- PB : PULLBACK
If you like the analysis,...
I will go LONG on CESC because:
1) The price is forming a Chanel or Rectangle Pattern .
2) The price also broke the trend line .
3) The price is also under Support/Resistance zone.
4) It has touched the support (lower end of rectangle ) and may reach the resistance zone (upper end of rectangle ) .
5) Target would be the Resistance area . Book profit when it...